Bitcoin Rebounds as Trump Extends EU Tariff Deadline, US Futures Tick Higher
Bitcoin rose to $109,600 as investors reacted to President Trump's decision to delay a proposed 50% tariff on EU goods, easing trade tensions. This followed a call with European Commission President Ursula von der Leyen, where the EU requested more time for trade negotiations. U.S. equity futures showed gains, with S&P 500 futures up 0.9%, Dow futures up 0.8%, and Nasdaq-100 futures up 1%. Trump had previously threatened a 50% tariff by June 1 but revised the deadline to July 9. Analysts expect Bitcoin to reach $120,000, supported by significant options trading at that level. The EU paused retaliatory tariffs on $23 billion in U.S. imports and is considering measures on $95 billion worth of goods. Crypto markets remained stable, with Ethereum around $2,550. Analysts noted that digital assets are sensitive to macroeconomic policies but the current crypto rally appears structurally sound, bolstered by institutional inflows and a favorable regulatory environment.
